Home Buying Tips (PDF)

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                                     Home Buying Tips
Home buying is a big deal, but it doesn’t have to be difficult.

People buy homes for many different reasons. Most buy for the sole purpose of living the
American Dream, others use the home buying market as an investment tool, and some even
use the margins inherent in real estate transactions as their daily income.

There are many factors one needs to consider when buying a house, whether to live in or as
an investment opportunity.

First and most important is do the research. Know what you’re buying.

One of the most important factors to research when buying a home is location. City, State,
and, even neighborhood should all be considered carefully.

We’ve heard it said over and over again. “Location, Location, Location”

So why is location so important? Well, unless you plan to live in the house forever, eventually,
you or your estate will want to sell it. You want the home to appreciate in value. You also want
to be able to sell quickly. What you don’t want is a house for sale sign sitting in your front yard
for years.

It doesn’t matter how wonderful your property is, you'll have a very difficult time trying to sell
your home for top dollar in a bad neighborhood in a reasonable amount of time. This doesn't
necessarily mean that it's a bad home. It simply means that there will be less demand. That’s
not what you want when you decide or have to sell your house.

One needs to apply a neighborhood litmus test when buying a home. Things to consider
include schools, nearby growth and development, and convenience. Local governmental
agencies often list a school district’s rankings. This information can also be found on the
Internet. If all else fails, real estate agents have access to this information and can be very
helpful. The value of your home will appreciate much more if it is located in a neighborhood
with good schools.

New construction nearby also plays a great role in improving the value of a house and should
definitely be considered when buying a house. A neighborhood which is on the outskirts of a
new development will benefit from the higher prices of the newly constructed homes. If,
however, the neighborhood exhibits signs of decline, one should think twice before buying that
house.

One other item to consider when looking for a house for sale is it’s proximity to places of
convenience like shopping centers, transportation hubs, and parks. Remember, someone else
will be house buying from you in the future. It will happen. And… They will be looking at the
same factors at that time.




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